Britain wants to lift a ban on a key crypto product — and catch up to the U.S.

Benoit Tessier | Reuters LONDON — The U.K. is set to lift a ban on a key type of crypto debt security in a bid to catch up to the U.S. and other financial hubs as it looks to become a global hub for digital assets. On Friday, the Financial Conduct Authority, the U.K.'s main regulator for financial services, announced a proposal to reverse its ban on offering crypto exchange-traded notes to retail investors. Exchange-traded notes are a type of debt instrument that are linked to one or more specified assets — cryptocurrencies, in this case. In essence, they allow investors to gain exposure to digital tokens through the use of a regulated exchange. Sales of crypto ETNs to retail investors have been prohibited in the U.K. since the FCA put in place a ban in 2019 due to concerns over the potential harms they pose to consumers. Get a weekly round up of the top tech stories from around the world in your inbox every Friday. Subscribe On Friday, however, the FCA said it proposed lifting the ... Read full article.